Musk's lawyer will serve as the chairman of a $200 million Dogecoin financial company

ChainCatcher news, according to a report by Fortune citing anonymous sources, Musk's lawyer Alex Spiro will serve as the chairman of a planned $200 million Dogecoin treasury company. The company is backed by House of Doge and aims to provide investors with an opportunity to indirectly hold Dogecoin.

The project plans to raise at least $200 million as a publicly traded company holding Dogecoin assets, allowing investors to gain exposure to digital assets in the stock market without directly owning the tokens. Currently, the project is still in the promotional stage, and specific structure and launch timing have not been announced.

Spiro is a partner at Quinn Emanuel Urquhart & Sullivan and has represented numerous high-profile clients, including Musk, Jay-Z, and Alec Baldwin. He has been nominated as the planned chairman of the entity in investor materials and discussions.